World Directories LBO expected to include $450 million equivalent of bonds

By Paul A. Harris

St. Louis, Sept. 27 - VNU World Directories' acquisition is expected to include the sale of about $450 million equivalent of high-yield bonds, according to a market source.

JP Morgan is expected to lead the deal.

Funds advised by Apax Partners Worldwide LLP and Cinven Ltd. announced Monday that they have agreed to acquire VNU World Directories for €2.075 billion from parent company VNU NV.

A syndicate comprised of JP Morgan, Credit Suisse First Boston, Goldman Sachs and Bank of America have arranged and underwritten debt facilities to support the transaction, according to a news release.

VNU World Directories is a Dutch publisher of Yellow Pages directories and telephone books in print, online and mobile formats.

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